Morning Note - May 17, 2021

Good Morning!

Tax day! Futures are weaker this morning as investors weigh the pace of the global recovery and inflation post-strong earnings season. PMIs on Friday and Fed Mins on Weds the macro focus. Infra talks continue and we should see an updated GOP counterproposal this week; no consensus on how to pay for it.

10-yr yield is down to 1.618% and can't…